S.Korea stocks rise on strong economic data; chip giants lead gains
* KOSPI rises, foreigners net sellers
* Korean won weakens against U.S. dollar
* South Korea benchmark bond yield rises
SEOUL, Aug 2 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares rose on Monday, driven by a boost in semiconductor giants, on strong exports and PMI data, following upbeat data and solid corporate earnings from the United States. The won weakened, while the benchmark bond yield rose.
** The benchmark KOSPI .KS11 rose 6.66 points, or 0.21%, to 3,208.98 by 0142 GMT, rebounding from a sharp 1.24% decline on Friday.
** Leading the benchmark gains were technology giants, with Samsung Electronics 005930.KS and SK Hynix 000660.KS rising 0.76% and 1.78%, respectively.
** South Korean exports jumped to a record high in July as overseas demand for chips and biohealth products extended export growth to a ninth consecutive month, data on Sunday showed.
** A separate private survey data on Monday also showed factory activity grew for a 10th straight month in July, driven by a solid expansion in production and new orders.
** Foreigners were net sellers of 210.0 billion won ($182.42 million) worth of shares on the main board.
** The won was quoted at 1,153.0 per dollar on the onshore settlement platform KRW=KFTC , 0.23% lower than its previous close at 1,150.3.
** In offshore trading, the won KRW= was quoted at 1,152.1 per dollar, down 0.1% from the previous day, while in non-deliverable forward trading its one-month contract KRW1MNDFOR= was quoted at 1,153.6.
** In money and debt markets, September futures on three-year treasury bonds KTBc1 rose 0.01 points to 110.26.
** The most liquid 3-year Korean treasury bond yield rose by 0.5 basis points to 1.422%, while the benchmark 10-year yield rose by 0.2 basis points to 1.878%. ($1 = 1,151.1800 won)
Reporting by Joori Roh; Editing by Rashmi Aich
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.